ISO 9000 is a series of international standards for quality assurance management systems. Companies meeting the standards

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ISO 9000 is a series of international standards for quality assurance management systems. Companies meeting the standards are considered to be "ISO 9000 registered." The periodical Business Standards maintains information about ISO 9000 registrations on its website (www.businessstandards.com). In an article that appeared on the website, Stewart Anderson discussed the growth of ISO 9000 registrations in North America from 1990 to 1999. Figure 16.23 reproduces a time series plot of registrations from the article. Use a quadratic trend model y = b0 + B1t + b2t2 + ε to forecast ISO 9000 registrations for future years. Also try using simple exponential smoothing (with a smoothing constant equal to .10) to forecast future ISO 9000 registrations. How do the forecasts obtained using the two methods compare? Try using a smoothing constant equal to .30. How do the resulting forecasts compare to the others?
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Business Statistics In Practice

ISBN: 9780073401836

6th Edition

Authors: Bruce Bowerman, Richard O'Connell

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